Oil prices: Challenges and responses

This year could be another time for testing the abilities of oil producers led by Saudi Arabia on how to manage the volatile market. High on the list of challenges is the growing supply not only from outside OPEC but also from non-conventional sources such as shale and sand oil coupled with timid economic recovery.
And accordingly oil prices are expected to hedge lower than last year putting more pressure on finances of oil exporting countries. A Reuters’ market survey by the end of December expects that the price of a Brent barrel, one of the main benchmarks, will average $104 in 2014 against $108.70 in 2013………………………………………..Full Article: Source